Futures Point To Mixed Open; Unemployment Rate Dips

Stock futures quickly pared losses after a positive November payrolls report, but still pointed to a mixed open Friday.

Dow futures reversed early losses and gained 30 points. Nasdaq 100 futures also shifted into the black, gaining 7.75 points. S&P 500 futures were steady, with a 3.6 point loss.

The Nasdaq and the S&P 500 ended Thursday with narrow losses so far for the week. The Dow will start Friday with a narrow weekly gain.

Nonfarm employers added 143,000 workers in November, the Labor Department reported. That was 8,000 more jobs than in October and better than consensus expectations for 80,000 new hires. October numbers were revised sharply lower, to 138,000 new jobs.

Private nonfarm employers added 147,000 jobs for the month, well above forecasts for 95,000. The average workweek held steady, hours worked rose 0.2%, both in line with estimates. The unemployment rate dipped to 7.7%, vs. analyst expectations for an increase to 8%.

Stocks were generally quiet, ahead of the payrolls data, with essentially all of the IBD 50 stocks trading with less than 1% gains or losses.

Overseas, China's Shanghai Composite shot up 1.6%, leaving the index up 4.1% for the week. Hong Kong's Hang Seng index slipped a fraction, ending the week up 0.7%. In Japan, Tokyo's Nikkei 225 slipped 0.3% as the country sorted out the impact from a magnitude 7.3 earthquake that struck off the north central coast Friday morning. The Nikkei 225 ended with a fractional gain for the week.

In Europe, stocks traded under mild pressure exiting the morning session. The major indexes were tracking toward very narrow gains for the week.

The dollar rose vs. both the euro and the yen. Oil sagged below $86 a barrel after dropping 2% Thursday. Gold prices dipped back below $1,700 an ounce.

A couple more economic news points are due later in the day. The University of Michigan releases its initial December reading on consumer sentiment at 9:55 a.m. ET. The Federal Reserve plans to serve up October consumer credit numbers at 3 p.m. ET.

Stocks showed mild losses around midafternoon Wednesday after the Fed's latest announcement signaled no big changes. The S&P 500 dipped nearly 0.2%, while the Dow Jones industrial average edged down 0.1%. The Nasdaq retreated a fraction. Volume was tracking down from Tuesday's levels across the ...

Stocks wavered and were essentially flat Wednesday afternoon ahead the Fed's policy announcement at around 2:15 ET. The central bank is expected to keep its bond-buying program and leave interest rates unchanged. The Dow Jones industrial average and the Nasdaq were up 0.1% each. The S&P 500 was ...

Stocks got off to a shaky start Wednesday, with early gains turning to a mixed performance, after the Commerce Department estimated that the economy unexpectedly contracted in the fourth quarter. The S&P 500 and the Dow Jones industrial average each dipped 0.1%. The Nasdaq inched a fraction ...

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